New Jersey Board of Public Utilities Announces 2016 Renewable Electric Storage Incentive Program
Renewable Energy & Sustainability Law Alert
The New Jersey Board of Public Utilities (the “Board”) has announced that it will be taking applications for a portion of the 2016 Renewable Electric Storage Incentive Program (the “Program”) beginning at 9 am on March 1, 2016. The details of the Program are as follows:
- The total incentive budgeted for the Program is $6,000,000.
- $3,000,000 is allocated for the instant offering and the other $3,000,000 is allocated to a subsequent offering to be based on the Rutgers LESS research and stakeholder input which is targeted for the Board’s March 2016 agenda.
- The application window for eligible projects opens at 9 am on March 1, 2016. Applications will be accepted on a first-come, first-served basis until the $3,000,000 budget has been committed.
- Eligible storage systems must be integrated with either new or an existing net metered Class 1 renewable energy system at a site served under a non-residential tariff that contributes to the Societal Benefits Charge through its electric and/or gas utility bills.
- Eligible projects will receive a rebate of $300 per kilowatt-hour based on the energy capacity of the storage equipment (minimum of 100 killowatt-hours). Maximum incentive levels are $300,000 per project and $500,000 per entity.
- Eligible projects will qualify for reimbursement of 50% of the cost of a Level 3 Interconnection Study if required by the utility, with the reimbursement not being counted against the project or the entity maximum rebate amounts.
- The rebate is to be paid after the project commences commercial operation and receives New Jersey Clean Energy Program inspection approval.
The intent of the program is to structure a standardized incentive across different primary applications, including frequency regulation, demand reduction and emergency back-up.
If you are considering filing an application, need assistance filing an application or desire more information, please contact your Chiesa Shahinian & Giantomasi PC attorney or the author listed below.
Stephen A. Kisker
Chair, Renewable Energy & Sustainability Group | firstname.lastname@example.org | (973) 530-2074